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1990 - 02-05-90 Regular Meeting
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1990 - 02-05-90 Regular Meeting
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Minutes
Committee
Board of Commissioners
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41 <br />Section 1. The Board of Commissioners of the County of Lee <br />has ascertained and hereby determines that it is necessary to <br />construct a senior citizens center, including the acquisition <br />and installation of necessary furnishings and equipment and the <br />acquisition of rights-in-land required therefor and to pay <br />capital costs of such improvements. <br />Section 2. In order to raise the money required to pay <br />capital costs of providing the improvements as set forth above, <br />in addition to any funds which may be made available for such <br />purpose from any other sources, bonds of the County of Lee are <br />hereby authorized and shall be issued pursuant to The Local <br />Government Finance Act of North Carolina. The maximum aggregate <br />principal amount of said bonds authorized by this bond order <br />shall be $1,000,000. <br />Section 3. A tax sufficient to pay the principal of and <br />interest on said bonds when due shall be annually levied and <br />collected. <br />Section 4. A sworn statement of the County's debt has <br />been filed with the Clerk of the Board of Commissioners and is <br />open to public inspection. <br />Section 5. This bond order shall take effect when approved <br />by the voters of the County at a referendum. <br />Commissioner Stafford moved the adoption of the following <br />resolution: <br />WHEREAS, the bond orders entitled, "BOND ORDER AUTHORIZING <br />THE ISSUANCE OF $8,700,000 PUBLIC BUILDING BONDS OF THE COUNTY <br />OF LEE", and "BOND ORDER AUTHORIZING THE ISSUANCE OF $1,000,000 <br />SENIOR CITIZENS CENTER BONDS OF THE COUNTY OF LEE," have been <br />introduced at the meeting of the Board of Commissioners of Lee <br />County held on February 5, 1990 and the Board desires to provide <br />for the holding of public hearings thereon and the submission of <br />a statement of debt in connection therewith as required by The <br />Local Government Bond Act; NOW, THEREFORE, <br />BE IT RESOLVED by the Board of Commissioners of Lee County, <br />as follows: <br />(1) The public hearings upon said bond orders shall be <br />held on the 5th day of March, 1990 at 10:00 o'clock, A.M., at <br />the Commissioners Room in the Lee County Office Building, in <br />Sanford, North Carolina. <br />(2) The Clerk of the Board of Commissioners is hereby <br />directed to cause a copy of each bond order to be published with <br />a notice of each such hearing in the form prescribed by law in a <br />qualified newspaper no fewer than six days prior to each such <br />public hearing. <br />(3) The County's Finance Officer is hereby directed to <br />6 <br />
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